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The Bilateral Netting of Qualified Financial Contracts Act, 2020 Section 1
Title: Short title and commencement
State: Central
Year: 2020
(1) This Act may be called the Bilateral Netting of Qualified Financial Contracts Act, 2020. (2) It shall
View Complete Act List Judgments citing this sectionThe Bilateral Netting of Qualified Financial Contracts Act, 2020 Section 3
Title: Applicability of Act
State: Central
Year: 2020
apply to a qualified financial contract entered into on a bilateral basis between qualified financial market participants, either under a netting
View Complete Act List Judgments citing this sectionThe Bilateral Netting of Qualified Financial Contracts Act, 2020 Section 4
Title: Powers of authority
State: Central
Year: 2020
The relevant authority may, by notification,-- (a) designate any bilateral agreement or contract or transaction, or type of contract regulated
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The Bilateral Netting of Qualified Financial Contracts Act, 2020 Section 2
Title: Definitions
State: Central
Year: 2020
(1) In this Act, unless the context otherwise requires,-- (a) "administration" means proceedings of the nature of placing under administration...
View Complete Act List Judgments citing this sectionThe Bilateral Netting of Qualified Financial Contracts Act, 2020 Section 5
Title: Enforceability of netting
State: Central
Year: 2020
(1) Netting of the qualified financial contract shall be enforceable--- (a) where such contract is entered into with a netting...
View Complete Act List Judgments citing this sectionThe Bilateral Netting of Qualified Financial Contracts Act, 2020 Section 6
Title: Invocation of close-out netting
State: Central
Year: 2020
(1) Close-out netting may be commenced by a notice given by one party to the other party of a qualified...
View Complete Act List Judgments citing this sectionThe Bilateral Netting of Qualified Financial Contracts Act, 2020 Section 7
Title: Net amount
State: Central
Year: 2020
(1) Where parties to the qualified financial contract enter into a netting agreement, the net amount payable under the close-out...
View Complete Act List Judgments citing this sectionThe Bilateral Netting of Qualified Financial Contracts Act, 2020 Section 8
Title: Limitations on powers of administration practitioner
State: Central
Year: 2020
The administration practitioner shall not render or seek to render ineffective,-- (a) any transfer, substitution or exchange of cash, collateral...
View Complete Act List Judgments citing this sectionThe Bilateral Netting of Qualified Financial Contracts Act, 2020 Section 9
Title: Power to amend Schedules
State: Central
Year: 2020
(1) If the Central Government is satisfied that it is necessary or expedient so to do, it may, by notification,...
View Complete Act List Judgments citing this sectionThe Bilateral Netting of Qualified Financial Contracts Act, 2020 Section 10
Title: Provisions of this Act to override other laws
State: Central
Year: 2020
The provisions of this Act shall have effect, notwithstanding anything inconsistent therewith contained in any other law for the time...
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